Market Trends of Colombia Beauty And Personal Care Products Industry
The Bath and Shower Products Segment is the Fastest-growing Segment
The market is witnessing an increasing demand for natural and organic bath and shower products due to consumer awareness about the harmful effects of specific compounds in regular soaps and body washes, such as parabens and aluminum. Consumers' preferences are based on the organic products' efficacy, long-lasting protection, and clinical properties. Furthermore, customers across the country have shown an inclination toward bath and shower products with botanical extracts. The players operating in the market have been offering bath and shower products with natural ingredients like botanical extracts to appeal to consumers. For example, Natural Conexion offers liquid soap with calendula and chamomile botanical extracts.
Additionally, the increased consumer awareness regarding the benefits of maintaining regular hygiene has been significantly boosting the bath and shower market segment. The players operating in the market have been offering various product variants to suit different customer segments with different skin types. For instance, Dove is a popular brand in Colombia. The brand offers a range of moisturizing body wash and soap products for customers seeking gentle and nourishing products. The Aveeno brand offers bath and shower products that are formulated to suit sensitive skin. Hence, the availability of such products also plays a crucial role in driving the market. The country has been importing soaps and other bath and shower products to meet the growing demand for such products among customers. According to the Observatory of Economic Complexity, the import of soap products in Colombia amounted to approximately USD 26.53 million in 2022. Moreover, consumers are opting for more expensive and aesthetically appealing bath additives with different fragrances and effective ingredients. Product claims by companies such as antiseptic, therapeutic, germ-resistant, and virus-killing are attracting more consumers.
Online Retail Stores are Driving the Beauty and Personal Care Products Market in Colombia
The sale of beauty and personal care products via online sales channels is witnessing immense growth in Colombia. The main reason behind the rise in sales through e-commerce retailing is the time-saving factor for consumers. Consumers can browse and shop for products 24X7. Additionally, they find it easy to choose their preferred brands and get vast varieties of personal care products as per their own needs and preferences. E-commerce also allows customers in remote areas or those with limited access to physical stores to purchase beauty products. Moreover, the increasing internet penetration across the country is also helping the beauty and personal care products market in Colombia. According to the International Telecommunication Union, 72.8% of the Colombian population had access to the internet as of 2022.
Beauty and personal care companies and online retail stores across the country have been integrating AI and offering try-on features for customers. Belcorp integrated Perfect Corp.'s artificial intelligence (AI) and augmented reality (AR) powered virtual try-on technology to provide its customers with a personalized online shopping experience. Perfect Corp. combined AI with AR to provide lifelike virtual try-on experiences to customers. The experience allowed customers to select from the thousands of products available under the Ésika, L'Bel, and Cyzone brands, virtually try on the products, and find suitable products for themselves. Hence, the technological advancements in online retail stores, intended to increase customer engagement and provide a personalized shopping experience, can further drive the Colombian beauty and personal care products market over the forecast period.
